Resumen:
This paper aims to analyze capital movements in Argentina and, consequently, international factors will be considered exogenous. But even if everything could be explained by external factors alone -which we believe is not the case- we would still have a task ahead of us. This task is to identify and analyze the effects of a sudden and exogenous change in the amount and characteristics of capital inflows on macrostability and in the financial and real structures of the domestic economy.